 The main topic of my presentation is about the isolated generation systems in the Amazon region. I will try to show you the real situation, the challenges, and one target that we are one challenge that we are looking for that is how to transform the Amazon region in a diesel-free environment. First of all, I would like to share with you some numbers about Brazil. We can start looking for the Brazilian economy. You can see in the left side of the slide our human development index that classifies us like a developing country. Also, the population projections for the next 30 years. When you can see that you are almost stabilizing the the numbers of people. Of course, we have an Asian population. In the right side of the slide, we can see our gross domestic product that is below the average of the developed country. It can classify and make us a developing country. The second slide is about the Brazilian power sector. This slide is very, very interesting because it shows the last more than the last seven decades. You can see our milestones, the green one in 1962. That's why the year when my company, Electrobras, has been founded, has been created by the government. It was important because this point was a turning point for the Brazilian energy policies until the 60s. Brazil just had a few electrifications. The power production was almost limited for the capital of states based in fuel fossils like all the other developing countries. In the middle of the 50s and the 60s, in the beginning of the 60s, the Brazilian government realized that they must supply more confidence to have a supply of electricity that could provide all the needs for the developing the country. You can see that after that, we had a huge growth, average growth of the installed capacity. If you look from 1962 and the nowadays, we have a 6.2 average. That is very huge. It was important that that's why that is the basis of the economic development of the country since then. One thing that's important to say that in that moment, when we make those decisions, we really, Brazil didn't have any reserve of significant or relevant reserves of oil, of gas, or of coal. The government decides to use the only natural resource that we had that was water. As far as I don't know, as you know, Brazil is on the country who has a huge reserve of sweet water. We have big rivers like the Amazon, like the others. The government made the decision to use the resource. It was important because it made us a very expert in this kind of development. There are some particularities of the Brazilian power sector that basically forged the system as we are in that moment. It's important to say that to make or to develop an electric sector based in the hydropower plants, it allows you to have specific planning tools because an hydropower plant takes almost 10 years since the initial project until the operation. You have to forecast your demand 10 years in advance. This made us very expert in demand planning and demand forecasting. Other things, other things that hydropower plants, it's a very intensive capital investment. You have to have a specific financial tools to face these things and always the investor or even the government to take this money and make all those investments. The financial sector, the planning system, all the procedures have been created to allow us to develop the hydropower project development. Electrobras was created in that moment as a state-owned company, as we are until now. But it was created as a state-owned company with shares traded in the market. This has made us very different from the other companies that exist in that point. When you look for the result of those policies, we can see in this slide that nowadays, this is our actual installed capacity of 170,000 megawatts. We have 87% of this installed capacity generated from clean sources. This is amazing. This is very interesting because when you look for the goals and the goals established for the developed countries regarding the climate change and the energy transition, you will find some levels that are below those numbers that we have reached in that way. I used to say in my presentation that we didn't do that in the 50s and the 60s because we loved the environment. We did that because we really didn't have any other alternative than water to develop and to base our electric sector. Nowadays, we still have 65% of hydropower plants, but we have already a relevant development in the wind and solar. We are the country in South America who has the largest installed capacity of wind and solar. We have also biomass that is basically in sugarcane when we have ethanol and things like that. It made us a country who has electric metrics very clean. The next four slides, I will show them more quickly, but I like them very much because it's a timeframe. A timeframe when you can see how we start in the 60s and how we reach the situation that we are today. In basis of each slide, there is the installed capacity that we had in that moment. I don't know if it's visible because my e-budget is the right number. In the 60s, we have almost just 1.8 gigawatts of installed capacity. You can see the dots in the map where the city is where we have basically electricity. It was just the capital of states. When we went, you went to the next decade. You can see the system have grown and the solids have almost doubled. We have already 12 gigawatts of installed capacity. We can see the beginning of two regional systems. One regional system in the southeast part of the country and another one in the northeast part of the country. You can see the first transmission line in the big, the secret with numbers represents the big hydropowers that have been built. When you went for the next slide for the 80s, we have almost a triple of the last decade. The regional system are more consolidated. We have more sources, more cities integrated. This was a way that have accelerated also the electrification of the country because once that the hydropower plants were located far from the load center, we have to build transmission lines. In the building the transmission lines, it was natural ways for electrification. It means that when we choose to explore the hydropower potential, actually we made two things. We built a very, very renewable base for the power generation and we created a movement to electrify the country that is very, very large. When we went to the 90s, you can see basically the two systems are still a red consistent, but it's still separated. It's still separated itself. Now we start to face some problems with those situations because as we have a very large country, we have several rivers where those hydro lap pans were built and we have difference between the rain, seasons and things like that. Since the 90s, we start to have problems. We draw seasons and excess of fluid and excess water in the others. Sometimes we face it a shortage of generation in the north when they have excess of fluid in the south and in the area over productions. In this moment, we started to think and to work to interconnect those systems in just one system. This happened in the end of the 90s. When we reached the 2000s, we faced it. We had the two systems interconnected and we have since this moment, we had just one electrical system. We called in Brazil the National Interconnected Systems. Since the way, we created two countries. One country, two parts of the country. One part that is interconnected in other ways. It has the access for all those renewables. We still had part of the country that is not interconnected. It's isolated. In 2000, we still have some important, very relevant capital states in the state that are not belongs to the National Interconnected System. In that way, I had almost 70% of gigawatts. When we went for 2010, you can see that the interconnected system have grown a lot. Now, the part of the country that is not interconnected is smaller. It's more concentrated in the north, in the northwest part of the country. This is exactly where we have the Amazon jungle. We will see that now, this is the big and the next challenge for the electric sector. The last slide of this time frame is 2016. I can say to you that it is almost the same situation that we have nowadays. Now, you can see that basically every state, even some states in the Amazon, are interconnected in the national electricity system. We have just one state in the north part that is really actually isolated. It is still isolated nowadays. If you look for the future, but at the moment, you can see that we reached the most difficult part of the country to electrify. That is the Amazon jungle. Here, we have several problems to go forward with this logic of interconnected to grow the electric grid. The result of this film is the huge transmission system that we have. We can see in these slides how it is created, how it is consistent. We have several levels of voltage and we have a very, very complex. We deal with all those loads and different sources and then we have very, very interesting problems and challenges regarding to control the frequency, the voltage and the take with the occurrences and so on. It makes us very, very experts to manage this large system. Since the nineties, we created just one national operator that is an independent agent who has in charge of managing all this operation of this big system. The second part of the presentation, I would like to present my company, Electrobras. As I said in the beginning, we have been created, we have been founded in 1962 as I stated on the company and we still are that way. The only difference is that from the beginning, the 60s now, it is that it was that in the beginning, we had the monopoly of generation and transmission in the country. Since 1962 until the middle of nineties, when all the Brazil, like other South America countries, decide to open the markets for private investors, Electrobras has been in charge of planning, building and operating all those things that you saw since the 1962 until 2000s. It made us and give us a great legacy in the knowledge about this process, all this planning and so on. But different from the other countries in South America that when decided to open the market, they also decided to privatize their companies. The Brazilian government made different. He just opened the market and kept Electrobras under its control and just gave us out of the expansion from almost 10 years. We gave 10 years for the private sector to come and to make investments. Since 2004, almost nine or 10 years after the openness of the market, the government allows us to come back to the investments, but in a different model. In the past, we control everything and we have the big power companies. Actually, we create four regional countries because we had a difference between the regions. Those companies owns all the generation and transmissions and big transmissions wide. The only difference it was distributions company that belongs to the states and sub transmissions that are in the states that belongs to the distribution company. But the long term, the long, distant transmission and the big hydropowers and others generation of facilities belongs fully to Electrobras. Since 2004, the model of investment and participation of Electrobras has changed and the government said to us, you want to build, you want own control, anything more. All the new investments, you make part as a minority state. It will be the partner for the private because they need your knowledge, they need your experience, but you won't control it because we must raise the private sector participation in the market. That's why we had in the left part of the slide, we have these boxes that are the companies who belongs to the holding Electrobras. You can see four big companies that are former the regional companies. They own one each for each region of the country. We can see one that is called Electro Nuclear because the nuclear generation, it was the only monopoly that remains with us. We are the monopolists of nuclear generation in the country. We have Taipu that's very important, interesting because Taipu is a B national between Brazil and Paraguay. He has 14,000 megawatts and until Trigorges has been built, Taipu was the biggest hydropower plant in the world. Since the 80s until the 2000s when Trigorges has been built, we are the biggest and we have half of it. And we have this blue box with 136 special proposed entities that are the partnerships that we have made with the private sector since 2004 and all the expansions since then it made by this way. In a recent reform that had in the company, we decided to low our participation in some of those companies. That's why we have 41 sales and we have 25 in extinction. We incorporate 14 and we expect to low the 136 to 62 participation in this year. And as I said in the beginning, although we have the control by the Brazilian government but in the state, we have private investors. We have created as an open company and we have shares in the markets and we have shares trading in the Brazilian stock market and New York stock market and also in Madrid stock market. So we can see regarding the international capital market, we are an international company and we have investors from the United States. We have an important stake from shareholders in the United States. Well, after those openness of the markets, you can see these slides, what remains in the control of eletrobras and we have 30.1% of the all installed capacity in the country and we can add more 5.3% on the nuclear and the Taipu, the B-National. And we have in partnership with the privates some very important investments like Belumonte that is the largest Brazilian hydroelectric power plant and we have 49% of it and 51% that belongs to our private investors. And you can see in the right side of the slide our metrics of the generation capacity of eletrobras. If I said that the Brazilian has 87% eletrobras has 96% of clean energy in these markets. It's made us a generation company very specialized in renewables and that's it. It will be our focus from here for the future. We will keep in the core business of generations and transmission, renewable generation and transmission system. Well, regarding the transmission system, we kept the control of 45.2% of the transmission lines. As I said to you, when the most part of those transition lines has been built, we were the monopoly, so we kept the ownership of those assets and this is important. Although we are in the recovering financial crisis in the country, so at least we still have some expansion in the pipeline. We have 10 wind farms that we are finishing. We expect to finish these in the next year and we are also one thermal unit that we are finishing expansion for a combined cycle. And I think that the most important investment that we have in the pipeline is the third nuclear power plant. That's Angra 3. It's a huge investment and this considered as a strategic one by the government. And that one we don't have parking, so we made direct investment ourselves. Well, we have others building projects in partnership with the private sector, but I think it's important. Now we raise the half of our presentation. You can focus on the main issue of it. That's the Amazon challenge. And I'd like just to remember the last slide when we shown the national interconnected system in that hole that we have, that belongs to the Amazonian states. And this is important because as you said, as you can see, we stopped to grow the transmissions system. And that's why it wasn't not because we didn't decide to do that, but we faced it. We stopped a very big challenge at how to expand the grid in the Amazon. And I shown this picture as 2016 and I said that nowadays we have something very close of it. And if you look for the next 10 years expansion, you see that the picture won't change very much. We just will make some connections for the only state that's isolated in the north. It's the only big connection that you do. You expand a little bit more from the west in the last state, but the whole is still continuing. And this hole in this hole exists a lot of people. And there exists the Amazon, a very fragile investment. We are talking about 3.3 million people. We're talking about 272 systems. And we talk about almost one gigawatt of installed capacity. And the only way they use it to do to serve those people in those regions is using fossil fuels. And this makes a very great contrast with the rest of the country. And we can see how the systems are serviced. And you can see that the diesel, although we have some natural gas, but it's very concentrated in some small big cities in Manaus where you can have some access to gas, most of those systems are supplied by diesel. And it gave us 94% of the energy comes from diesel generation. And we have a very high emission intensity on this. If you look for, and more than that, how can you supply the diesel on those regions where you don't have roads, you just have the rivers. And we have a very huge logistic for doing that. And when you talk about roads in the Amazon, it's a nightmare because it's a very, very aggressive environment for these kinds of constructions. But you can think, well, I have the rivers, but the rivers are problems also because we have some drought seasons in the climate events. Recently, it makes the flow of the water in the Amazon region to have a very great volatility. So sometimes we have no access to those communities. We have to transport the diesel in small boats. And it's raised the danger and the manage to have an environment risk, to have a problem in those supplies like the linkage of oil and you are managing this very, very fragile environment. And all of this raised a question for us that, okay, and how costs to provide this energy for those communities? You can imagine that is the cost of generation there. Considering the diesel price, considering the difficult logistic that we have, considering all the costs that we have for operation maintenance for those low systems split in the Amazon, it costs a lot. And in those regions, the people who lives there, wasn't the rich people that we have. So the government just have one tool for doing that is subside. So we have in this point, in this region, a huge subside for the Brazilian consumers in the subside budget for this year is $1.5 billion. And who pays that? The other consumers. Actually, the subside is basic, is charged for the other consumers that are in the interconnected system. So indirectly, the isolated system represents a high burden for the consumers in the interconnections. And this is, I think, is the more important slide of the presentation, because you can see two different countries in South or two different realities inside the country. You can see in the green circle, the interconnected system, who consumers have access to 87% of clean energy, a very, very clean matrix, a very, very clean generation system, we have just 0.1 equivalent tonal of CO2 for megawatts. We have a cost of 10 cents for kilowatts. We have 2.3 megawatts per person a year, the consumer. And we have a density of populations of 52 inhabitants of square kilowatts. And if you look for the stores bar that is not so small, but has less persons, we can see 94% of full fossil in the basis of the electric matrix. So you can see almost six times more emissions than the other. You can see four times more, more expensive energy. But and you see the thing that I think is more important, a very low consumption per capita a year. That means that those people is not economically developed and the social development. There is a huge potential to be developed. And the one thing that is struggling this development is the electricity supply. And in those reasons, we have one difficulty more that we have a sparsity of population very high, bigger than the other. So they have 62% for square kilometers. So you have less than one inhabitant per square kilometer. And this is the big challenge that we will try to address in the next slides. But if you see, wow, how much people live there? How much exist people exist in the green bubble and the gray one? I show that this is a history that belongs a long time ago. And what you show in this map is how the electrification have been developed in the country. In this electrification, if you look at this map, you can see the density of electrification in the country. In 2000, we have almost 71% of the population has access to electricity. In 2010, one decade, we almost have 92%. And in 2015, that is very close that we have now, we have maybe a little bit more, we have made it 90% of the people with access with electricity. If you look for the red part of those maps, you can see that the things have evaluated almost at the same way that the interconnected system did. So the logic that we had used to make this, it was just expanding the grid. And this was a very successful problem. It was known, it is known like the light for all. And it's a very recognized electrification problem in the world. It has been recognized by United Nations, a very successful one. But the things is, it makes a very great success where I could expand my electric grid. How can I do now when I went for a region where I cannot do that? And this is the challenge that we have. And this figure shows the situation. We had the first circle, the light for all, the electrification problem that make a strong success in the world and make Brazil a very, very important country with the higher education there. But it was basic and grid integration. And even though when they didn't have, didn't achieve a way to spend the grid, they use it diesel for the remote regions. They're using diesel for this kind of supply. And now we reach a limit for that. And we have two challenges in the front. First of all, we must to expand the electrification assets for the remote regions. And the problem that cannot expand more the diesel supply or the diesel generation because it's a problem. It's a problem for the region. It's a problem for the other customers that in the connected system had to pay for it. So the government decided to launch in the beginning of this year second, another, a new program. And the program is called More Light to Amazon. And the idea of the More Light to Amazon is to follow the challenge of the light for all and interconnect the rest of the population. We are talking about 2% of the population, but you have to substitute as far as possible the diesel for renewable on those regions where the light for all didn't get the interconnection and use the thermal solution. And if you look for us and if you ask me how you do, how you manage the challenge for the more light for the Amazon. My personal and my team idea is we have to look for the future, not for the past. And we got the inspiration in this slide that we got from a future long-term view for the World Economic Forum. And you can see the big trends that you know more than I because we are working with that in the university, the electrification, the decentralization, digitalization of the electricity sector. So the idea is how can I look for the future and apply and bring this future for the reality in the Amazon systems. And we can get those inspiration in another continent. Very interesting that is Africa. And I will talk about Africa not regarding the electrical system because they have big challenges. I use it to prospect business in Africa. I was in charge of the international division of retrogress for the last decade. And I know Africa very well. And I can say that Africa has a big challenge in the energy sector. But think have a lesson to give us is in the telecommunication sector. Because what happened in Africa that they realized that was impossible to implement the fixed telephony. And they decided to go through the mobile telephone. They just leap this point. And they went exactly utilizing the more advanced technology for telecommunication. And maybe this is the approach we should use in the Amazon region. I don't need to interconnect them. I have to forget the logic for light for all. I have to adopt a very, very different approach for the rest communities that we have to supply. And they have to substitute the digital generation. We have to bring the future now. And those are some initiatives that we are engaged in. Inspirated by those visions. We are working and trying to get partnerships with partners who are working the edge of the technology. And we are looking for example and we are partnering with people who are working with photovoltaic, floating photovoltaic because we have a lot of water surface in the Amazon. And we are looking for the guys who are working with green fuel because we have also a lot of carbon and things that you can combine with the hydrogen produced by the renewable. We are talking with guys in artificial intelligence, modular photovoltaic and storage solution and so on. So what then we are reaching the end of the presentation? Our proposed solution is working for those who are isolated in remote communities in the Amazon. Giving a direct lift into the future in order to provide their own clean, reliable, and luckily produced power. The one thing is important, are you come back just one slide. When we look for electrification in this slide, I'm not just talking about power generation. I am trying to electrify all the economy of those remote communities because the diesel there, I use it just for generating electricity. They use it also for mobility. If I need to finish or to disappear with the long supply chain of diesel, I have to substitute diesel in all the economy of the region. And one thing that is important to say, part of those diesel that has been used and subsided for this, sometimes has been stolen, deviated and sometimes could supply other activities. They are not the more Republican ones. So I think this is a problem that we have to face on that. And the idea is to work and provide this new solution of power in the houses in the economy with Meaghan and Michael Reed depending on the site and location community. And then we have a high diversity of communities. We have communities that come from just some kilowatts until one or until 10 megawatts depending on the size of the community, the way that people are distributed in the territory. The challenge is the conventional power generation as they have been implemented until now. It's a traditional way. We have a base load, we have a power generation, you have a base load, you have to have the capacity into that. And we have to deal with the intermittency of the renewable sources. And we know, we are learning that the load curve plays a very important role in the site and the availability of this. And this drives us to a big challenge that is how can we manage the demand? How can we include the supply side and new smart management? Although we are thinking about the traditional smart measuring by then, there is no intelligence in demand side. And the idea is to develop a protocol and how the demand side should be managed considering all the characteristics of the renewable generation, all the characteristics of the people, of the customers and the city. In a way that the solution won't, won't, will limit the social and economic development of the region. And we can provide a very reliable source for them. And the, the good notice is that is very expensive. The way we are doing is very expensive. So more, more, much of, of, of those new approaches in technology could be feasible if compared with the cost that we, in the subside that we have to provide this. I think this is the end of our presentation. I, I, I really hope that I could address the, the challenging. And I hope that I could provoke on you the curiosity and the inspiration, maybe to go forward in this issue. And in the future, make a work with us in the challenge. I think this is important for Brazil, but it's important for the Amazon itself. And it's important to remember that the Amazon is not Brazil. We have the same situation in other border countries like Colombia, like Venezuela, like Peru. So the solution that we are building here can be scalable for the other countries in tropical forests like that. That's it for all. Thank you very much for your interest before, before attention, for your great, great. Thank you, Pedro, for a terrific talk. I think the audience, speaking for the audience, I thought that was a great example of enlightened corporate leadership of just the kind we need now to make the world a more sustainable place to live. I do have a large list of questions, which I'll consolidate just a little bit. The first set is probably obvious that people in the U.S. would ask questions like this. Is, are the siting of transmission lines and nuclear power plants in Brazil politically charged issues? So this probably has to do mostly with public acceptance and so on. I know you've been all over the world. So how would you describe the situation in Brazil regarding siting such facilities vis-à-vis the rest of the world? No, I would say that the model that you have adopted for building and growing the electric power sector is very acceptable for the population. They recognize that we have a very reliable and a very, very confident power sector. As I said to you, the ship electricity was the basis for the economic development of the country since the last decades. So I think that we don't have political problems to build transmission lines. Even though we have built something in the Amazon, I showed to you the map and there is one city that's Manaus that's in the middle of the jungle and you have to reach because it's a very huge load and you have to build a transmission line and we adopt a design that it could lower the harness and the force to give an idea. The transmission towers is almost on the same side of the AFIL tower because they are built over the top of the forest. There is a lot of discussion about to build, for example, a big power plant in the Amazon. I think this is something that we did some but nowadays we are considering very, very high how to do that and how to limit the impact in the environment. We used, when we went for these very, very fragile environments, we used the very high technology because Brazil has one of the most strict environmental law. So we learn a lot. We learned a lot during the last two or three decades and how to build this. So I think we don't have, this is not our specific problem. I think our specific problem now is the high costs of the isolated system and how can we expand this and do not impose a limit for those regions to develop. Because once we make this, we give room for other kinds of economic activities that are not desirable for the region, right? Obviously, yourself and your company are very advanced in thinking about grid topologies and automation and I think at the end you partially answered two pretty deep questions about grid stability and stability operation kind of using a smarter grid. So the two questions are, has Brazil implemented controls or microgrids to avoid cascading blackouts in your main grid system related to that? Has that been a problem in the past? And two, this actually works partly in the other direction from the end of your talk. Is there any concern about having only a few points of contact between the northern and southern grids in Brazil? Well, to build the huge interconnected system in Brazil, it was a learning curve. And since we interconnected the two regional systems, we learned a lot how to deal with stability and things like that. In actual, we have a lot of of automatic control to deal with the stability problems. And I think that the talk about what we did in the operation of this huge system is something that it's an issue for another presentation. That's a very large, actually, we don't have microgrid now in the strategic for stability, but we have a lot of local control. And it's something that is important to say that when you have a base load in the hydro power plant, we have a huge, huge inertia in the big hydro. And this is very important to keep the stability of the system. We have a recent phenomenon in Brazil. In the Northeast, I showed to you that we have 12% of solar in the wind. Most of it is concentrated in the Northeast part of the country. And sometimes these small region that is interconnected has more solar and more wind and solar than hydro. And it brings to us some stability problem that they have never faced before. And that's very interesting. But when you talk about, oh, you have 20%, no, in those regions have 50% of wind. And this is a problem, something that we are learning. Okay. But in the level of microgrid, I think like that, not yet. And I think that we are far from it because, as I said, we have a huge system with a lot of resources that we can use to keep the thing stable. Terrific. Yeah, we have experienced such too much, particularly solar situations in California, as you're probably are well aware of. Now we have a couple of technology questions. What role do you think advanced energy storage technologies, particularly kind of beyond lithium ion batteries, might have both in your main grid and in the Amazon. And a second question on the Amazon. Do you see any role for biodiesel to be a partial transition field there in certain areas or not? Yes. I think the two questions are very, very interesting. I think the storage is very important. I think the storage has a very interesting room in Brazil. And in the interconnected system, I think some customers are using, we have some growth of solar in the final customers of interconnected. They are starting to think, to use storage and to incorporate this. We don't have a large storage in the system in Brazil yet, in terms of utility scale, but we have a lot of distributed. But in the Amazon, they are critical. In the Amazon, they have to be used. And the solution that you are studying is something that combines photovoltaic and storage. And I think that what we need now is a very, very fine demand control to make the management of the balance demand and generation balance of this microwave. So for us, storage, it will be critical for the Amazon. And regarding biodiesel, it's a very important question. Brazil is known, but his huge biodiesel project, we have a lot of it. And actually, we have a very interesting legal framework that allows the biodiesel to be introduced in the normal oil chain of supply chain. So Brazil can do that. And the problem in biodiesel is that sometimes it competes in the agricultural side with the food production. Brazil is a very exporter of food now. So I think this sometimes will have some kind of competition, because the market for biodiesel sometimes is not so good, like the food market and the agriculture guys decide and make the choice between one and two. But that is another thing that we are looking in. I think it makes sense, and it could be used in the Amazon, is the green fool is something that we can use the carbon capture combined with hydrogen that you can produce with renewable sources. In the Amazon, we have a possibility to have a renewable, you can use solar, there is a possibility. There is no much wind in the Amazon, but there's a lot of solar. We have a lot of water in the water surface when you can use it. And you have carbon capture, because some of the cities produce a large of waste. And we can use the carbon of the waste. That's another environmental service. And you can produce the green fool. And the legal framework that has been designed for biodiesel, it works for the green fool also. So if I became a green fool producer in Brazil, I could sell and I could introduce my product in the market almost immediately. I don't need a special law, a special framework, because the framework of fuel in Brazil is very flexible and has been there because of the biodiesel production. So I think this legacy will be very important in the energy transition. Without getting too political, I'll try to ask this one in a neutral way. Has Brazil's support for renewable energy changed under the Bolsonaro administration? Obviously, people like us all over the world are asking these questions about our leaders. This is kind of the technical scientific part of running our economies versus the political leadership. Are you able or do you care to say anything about that question? I think it's interesting. Well, as I showed in my presentation, the commitment to Brazil with renewable has more than 60 years. And I think that's in the blood. And I can't say anything different from Brazil. I have 40 years of working at Lanto Grass. I saw a big part of this film. And I can say that, dependent on who is in the government, Brazil has a strong and long-term commitment to renewable. This is our history. Yeah, as I mentioned in our pre-talk chat, just a year ago, I was down in Rio and I had the same impression, but I wanted to cross-check to make sure that you agreed with that. So with that said, I'd like to thank you for an inspiring talk one last time. Your talk actually seems like it's an excellent example. Speaking of the global economic forum, what the former executive director wrote in his book, The Fourth Industrial Revolution, which was very conceptual. So it's nice to see someone like yourself bringing some of these ideas rapidly to fruition. So thanks once again for a fantastic and inspiring talk. Thank you very much. It's my pleasure and thank you once more for the opportunity to share those ideas with the academy. And I think that the opportunity that I have to to visit you there, thanks for the invitation from Mr. Leon, Professor Leon, and what I saw that very much that we are doing here there could help us in this to build this vision that we have. Thank you very much. Absolutely. Come visit us as soon as you're ready of all. I do that probably. Thank you very much. Thank you. Thanks again.